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India likely to let budget deficit rise as tax receipts fall short

Updated : June 21, 2019 11:15 AM IST

New Finance Minister Nirmala Sitharaman presents her first budget on July 5, for the fiscal year ending March 2020. It is also the first budget of Prime Minister Narendra Modi's second term after his government was returned in a landslide election win last month.
Since becoming prime minister in 2014, Modi succeeded in improving public finances, trimming the fiscal deficit to 3.4 percent of gross domestic product (GDP) from 4.5 percent in 2013/14, mostly through subsidies cuts and fuel taxes.
India likely to let budget deficit rise as tax receipts fall short

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